Tag: Financial Inclusion

Citigroup Exits Developing Markets By Spinning Off Consumer Businesses

For banks and other financial institutions to remain profitable during these challenging economic times, they have to cut their losses at every possible turn. For Citigroup, that means selling off its consumer business in developing countries, such as Brazil and Argentina. The reason for this is simple: these regions bring down the overall profitability of the bank. Shareholders must be pleased, after all, as clients in those countries are only …
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